Regulatory Alerts2019-01-01
Circular No. 108 Transfer of Funds, Precious Metals, and Valuable Documents
The Palestine Monetary Authority mandates that all banks operating in Palestine strictly adhere to Instructions No. (2016/09) governing the transfer of funds, precious metals, and valuable documents. This directive reinforces security protocols by specifying mandatory conditions for banks conducting their own transfers or utilizing unarmored vehicles. The requirement aims to eliminate operational risks and safeguard the integrity of the Palestinian banking sector.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (108/2018)
To all banks operating in Palestine
Date: Monday, May 28, 2018
Subject: Transfer of Funds, Precious Metals, and Valuable Documents
With the aim of ensuring the safety and security of the banking sector in Palestine and avoiding any risks related to the transfer of funds, we emphasize the strict compliance with the requirements of Instructions No. (2016/09) regarding the transfer of funds, precious metals, and valuable documents, including the conditions and requirements that must be met if a bank wishes to carry out transfer operations itself, or to conduct transfer operations using an unarmored vehicle.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Email: info@pma.ps
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Email: info@pma.ps
www.pma.ps